As indicated by A, the Bollinger Bands width of the 2nd board index remains contracting, suggesting that the 2nd board index is still consolidating. This also implies that the 2nd board index is gearing up for a new movement. If the Bollinger Bands Width should expands with the 2nd board index staying above the Bollinger Middle Band, it would be a bullish signal. If the Bollinger Bands Width should expands with the 2nd board index staying below the Bollinger Middle Band, it would be a bearish signal.

As indicated by B, volume for the 2nd board market remains lower below the 40-day VMA level. This shows that the market participation of the 2nd board is indeed low, and therefore, without sufficient participation, the sentiment of the 2nd board index is less likely to turn bullish.

As indicated by C, the MACD histogram continue ticking lower, while the Rounding top remains intact. Provided that the MACD histogram is still ticking lower, the market movement for the short term is likely to be bearish biased.

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